Research Methodology for Buahle,

• . '
l on< Answer Questions
ef
Q.1. What do you mean by •Reaearch'? Explain Its Purpose an(f/
Ch1racterl1tlc1.
Ana:Introduction:
Research l$ l(nown as the provider of the specific knowledge needed to succeed
in researching ahd utilizing the best and most appropriate data for decisionm
king. It is collection of information on a certain ideas or theories to gain better
knowledge on something. Research can be done through reading source material
or performing experiments. It Will also provide the skills needed to eff ctively
communicate research results to a pacific audience for maximum impa and
effective decision
.making.
Research:
A) Meaning:
Research is a systematic structure of investigation undertaken.in order to discover
new facts. It- provitles a structure for decision-making. Research is an inseparable
part of human knowledge. It is a process . that takes the as istance of the
.
scientific
method in solving problems. Research is .a way of thinking. It clarifies the thought
process. R-esearch is undertaken in·natural a.nd social sciences. It always expec.ts a
piece of . ork that advances human knowledge. Today's resear9h became an
important activity in overall soci_allife. Methodology is essen ial to perfo'rm any
research activity•. Method means system or order. Method means. way of doing
something: Resea_rch methodology provides a framework_to,conduct a research. It
can be said that research methodology is a.science of, research. Methodology
• provides a way and guiding principles f r. research.· Hence, study of
.research methodology became very important in today's academic career.
B) Definitions:
Definitions of Research ar€! as follows:
1) Redman and Mory-:
"Research is.a systematis d effort to gain new kn.ow/edge.'!
2) John BeJt : ,;
_"Research is a more .systematic activity directed towards discovery and the
development of an organised body of knowledge."
3) Webtter'a Dictionary,:..
"Research is a careful or critical inquiry or examination in se.eking facts or principles;
diligent investigation in order to ascertaining something."
4) Shorter Oxford English Dictionary : • .
• "Research is an investigation,dlrecte to the discovery of some fact by careful study
of a subject; a course of critical or scientific
inquiry."·
Sharp's Notes
 M.Com. (Sem. - Ill) R•aearch M•thodo,logy for Buslneas
C) Objectives/Purpose of R••••rch:
Following are the objectives of research:
1) Development of Knowledge :
Business studies include the studies of business transactions or business
phenomenon. Business research aims at collecting a systematised body of
knowledge about the business problem. For this purpose, it applies the research
as a method. ihe main object of business research is to add to the knowledge.
2) Scientific study of Bualneaa Life :
Research is an attempt to acquire scientific knowledge about tt\e business world
and problems. The researcher r:nakes study of collective processes, changes,
business structure and business processes, etc. Apart from it, it makes study of
business life, collects data about various aspects of the business world., and
formulates laws in
this respect. Once law tlas been formu.lated' it tries to establish the inter-
relationship between these facts. All·these are intended at adding to the
knowledge about
business life.
3) Clarification of Facts :
Generally, the purpose_of carrying out research is to either confirm the existi g fact
or improving the existing one or creating something new. The rationale behind every
research is to suggest the poss.ible solution to issue concerned with current or
future period. Every research aims at finding the unknown fact .which ·is actually
h_idden or Jo clarify the known fact. .
4) Improvement in Quality of Business Life:
One of the most practical objectives of b siness research relates to improvement of
. quality of business Jife in several-ways. Its findings can provide decision makers with
proper guidelines for policy making. For instance, they may help the management
of a manufacturing company to increase its plant efficiency as well as improve
employee moral_e.
5) Business Control and Prediction :
Through bu iness research, we make study of business problems, events and the
. factors that govern and guide them. Apart from these, we also present an analysis of
business situations in the scientific manner. We study business relations and their
dynamics. This study is helpful in business to control the various factors and predict
the future of business.
6) Appearance and Presentation of Novel Situation :
In the business field, new problem crop up before us everyay. These situations
orderproblems
and to kn·owdemand
the causes of these
solution. The problems and novel situation
business researcher find
andthe
has to take out their
research in
·solution. New business problems motivate the researcher to take the research an
find out solution to these problems and situations.

-1.4-
 odology for Busineaa
Researc h Meth -
Com. (Sem. -·HI)
7) Investigation and Verification : . nl to finding out the facts and
The business research does not confine ourselv s O y f ct that have come to
solutions but also try to investigate and ven the a s
knowledge.
D) Characteristfca of Good Reeearch: 't q I
Characteristics of a good research are as follows:
1) Systematic: . . t k n in a specified
It means that research is structured with specified steps to be a e .t
sequence in accordance with the well-defined set of rules. Systematic c aractens IC
th
of the research does not rule out creative thinking. but it certainly does reJect e
use of guessing and intuition in arriving at conclusions.
2) Logical: .
This implies that research is g'uided by the rules of logical reasoning and the logical
process of induction and deduction are of gre.at v.alue in carryirlg·out research.
Induction is the process of re soning from a part to the whole whereas deduction is -
the process of reasoning from some premise to a·conclusion which foJlows from that
very premise. In fact, logical·reasoning makes research more mea_ningful in the
context of decision making.
3) Empiric-al: •
It implies that iesearch is related basically to one or more aspects of a .real
situation an deals with.concrete data that provides a basis·for external validity
to.research results.· • • •
4) Replicable:
This•characteristic allows research results to be verified by replicating the study
.and thereby building a sound basis for d cisions. The research design·and
procedures are replicated or repeated to enable the researcher to arrive at valid·and
conclus-ive results.
5) Analytical:
Research utilizes proven. analytical pro dures in gathering the data, whether •
historical, descriptive an experimental and case study.
6) Methodical:
•
Research. is conducted in a methodical manner without bias using systematic
method and procedures.

Q.2. Discuss the Importance of Rese rch in Today's Business World:

Ans: Introduction:
Research plays. signifi nt role in important areas 'like marketing, production,
banking, etc. ft pfays an important role in developing economy. It helps to solve the
problems in the economy. Following points reveals various.advantages of research.

Sharp's Notes
 M.Com. (Sem. - Ill) _ Re,,arch Methodology for Bu•ln••
- Research is useful and helpful in various dteas to solve the complicated problems.
Following figure reveals illiportance of research In various areas.
1) Marketing Declaton•:
Research plays crucial role in taking sound marketing decisions. Research tools
are applied effectively for studies Involving demand forecasting, consumer buying
behaviour, measuring advertising effectiveness, media selectioh and new
product potential.
I) Production Declalona :
Research helps to producer in taking production decisions. R search enables an
organisation to decide on what to produce, how much to produce, when to produce
and for whom to produce in the field of production. '
3) Helps Banking Institution :
Research is useful to banking institution. They have found it useful to setup
research departments for the purpose of gathering and analysing information
both for their internal operations and for making in-depth studies on economic
conditions of business.
4) Foundation for Government Policies :·
Research provides basis for all gover ment policies in our economic system.
Research is useful in economic 'planning. It also helps·to govemme t in preparing
budget and collection of information on the economic and social structure of the
nation. •
5) Human Resource.Department :
Research helps human resource department in several ways. Research is useful to
study wage rates, incentive schemes, and cost of living and employment tren_ds.
Research is effectively used in manpower planning. •
6) Solving Problems of Busine_ssand Industry :
Research plays sign_ificant role-in solving problems of business and industry. It
helps to business and industry through providing information required for business
decisions.
7) Guiding Social Planning : .
Social research has a crucial role·to play in guiding·social planning. Research helps
social planning through providing a systematic nowledge of the societal resources
and lia,bilities of the people and·their culture. No effort can be successful if.social
planning is t>ased on fictitious assumptions about the need, problems prevailing
systems and the quantum and quality of efforts require for a particular type of
social planning.
8) Welfare Reform, :
Appropriate welfare reforms can be introduced in the society only when social
research helps in finding out their need and necessities. State can introduce
. legislative measures with the help of the findings of social researcher. •
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 M.Com. (Sem-. Ill) Research Methodology for Busipes
9) Guiding Social Grow_th : nd toa reat extent on our
The success of planning for social development depe s . f 9S 'cialresearch.
0
intimate knowledge of our own society and also of other soci,ees. . h d
is
I
initiating and guiding social growth on proper line and towards the chens 8 goa •
10) Improvement in the Tools and Techniques : . f th
Every social research helps in improving old techniques and inri:ova mg e new
ones. Existing tools of research are The re is a great. chance of
.f . d
mod1 1 e .
• 1
i•mproveme• nt the methodology and i ts too s soc1• aI. research than in any other
•
m• discipline. m

Q.3. Explain the Criteria/Essentials of Good Research.

Ans: Introduction:
Good research generates dependable data that are derived • by professionally
conducted practices and that can be used reJiably for decision making. The criteria
of good research are discussed below. ,.
1) Purpose Clearly Defined: . .
The purpose. of ·the business research-the problem involved or the de_cision to be
made-should be.dearly defined and sharply delin ated ·in terms as unambiguous as
possible. Getting this·in. writing is valuable even in insta·nces in which the same
person serves as researcher a·nd decision maker. The statement of the decision
problem should include its scope·, its li itations, and the·prec_ise meanings of all
words and·terms significant to the resear h. Failure of. the researcher to do this
adequately may raise legitimate doubts in the minds.of research report readers as to
whether the researcher has sufficient understanding of the problem to make a sound
proposal attacking it.
2) Research Design Thoroughly Planned :
• The procedura'I design of the research, and its choice among competing designs,
should be clearly described and carefully plann d to yield results that are as
objective as possible. A survey of opinions or recollections· ought not to be used
when more efiable evidence is available from documentary sources or by direct
observation. Bibliographic· searches should be as thorough and. complete as
possible. Experiments should have satisfactory controls, requcing threats to internal
validity nd enhancing·the probability of external validity (ge.neralizability). Direct
observat,ons o ld be r corded as soon a, possible after the event. Efforts should
be made to m1rnm1ze the mfluence of personrl bias in selecting. arid recordingdata.
3) High·Ethical Standards Applied: • •
Resea chers ften work independent y anda e significant latitude in designing
and executmg- proJects. A research design that includes safeguards
againstcausing mental or physical harm to participants anq makes data
integritya first priority
/;_
I
M.Cohl. (Sem.-_ Ill) • ,Research Methodolog_y for
Business should be highly valued. Ethical issues in research reflect important moral
concerns about the practice of responsible behavior in society.
4) Limitations Frankly Revealed : . . . .
The researcher should report, with complete frankness, flaws 1 procedural design
and estimate their effect on the findings. There are very few perfect research
designs. Some of the Imperfections· may have little e ect on the validity and
reliability of the data; others may invalidate them entirely. A competent research.er
should be sensitive to the effects of imperfect design. The researcher•s experience
in analyzing data should p,rovide a basis for estimating the i fluence of design
flaws. As a decision maker, a person should question the value of res arch about
which no limitations are reported.
5) Adequate Analysis for Decision Maker's needs :
Analysis of the data should be extensive enough to reveal its $ignificance, what
mana er call insights:_T. he methods of analysis used should be appropriate. The
extent to which this criterion is met is frequently a good measure·of the competence
of .the researcher. Adequate anafysis of the data is.the most difficult phase. of have
satisfactory controls, reducing· threats to internal validity and enhancin.g the
probability of external validity (generaliza ility). Direct observations should be
recorded as soon as possible after the event. Efforts hould be made to minimiz, .e
the influence of personal bias in selecting and recording data. • •.
6) Findings Presented Unambiguously : .
Some evidence of the competence and integrit¥ of the researcher may be found in
the report itself. For·example; language .that is restrained, clear, and precise; '
assertions that·are carefully drawn and hedged with appropriate reservations; and
an apparent effort •to achieve. maximum opjectivity tend to leave a favorable
impression of the researcher with the decision maker. Generalizations that outrun
the statistical findings or other evidence on which they are based, exaggerations,
and unnecessary verbiage tend to leave an unfavorable impression. Such• reports
are not valuable to managers wading through the r:ninefields of org.anizational
decisi.on making. Presentation of data should be comprehensive,. reasonably
interpreted, easily understood by the-decision maker, .and·organized so that the
decision maker can readily locate critical findings;
7) Conc'lusions Just.ified : .
Co clusions should. be limited to those for which the data provide an adequate
bas11. Researc ers are often !e pted to oaden the basis of induction by
including pe sonal experiences and their interpretations-data not subject to the
controls under wh,c the rese rch was conducted. Equally undesirable is the all-
too-frequent praetice f drawing conclusions frpm a study of a limited population
and applying themuniversally. Researchers also may be tempted to rely too
heavily. on data

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Sharp's Notes
 I I • •

. Research
thodology for Buaioee1
Me . t d
f n of a new s u Y.,Such
M.Com. Se - Ill . . and use it In the ;nte Pr ta ':ho confine their Work ta•
collected in.a pnor study mong research specialists the objecfivity :of the
ractice sometimes occurs a t nd to decrease
P III dustry These actions e d' Good researchers
always• clients in • sma n • , d ce In the fin ,ngs. .
research and weaken r$aders onfl n oncluslons seem to be valid. •
specify the conditions under which the rc • .
n--rcher'• Experience Reflecte • d 'f the researcher is experienced,
) h ·s warrante ' •
Gnr.e.a.te-r confidence in the researc . I arson of integrity. Were it poss, e ,or
"bl '
haS a good reputation in research, an 1sa . nt information about the rese rcher,
the reader of a research report to obtain suff1c1:st bases for judging the degree
of this criterion perhaps would be one of t e b I of any decision based
upon
confidence a piece of research warrants and the va uet . ; formation about
the it. For this reason, the research report should con am
qualifications of the researcher.
•
Q.4. Explain the·various Typ·es·of Research in detail. •
Ana: Introduction: . . . . . .• . d t 0 enerate
The systematic, rigorous investigation of a s1tuatI n or pro lem in or er .. 9 . .
new knowledge or validate xisting knowledge is called .as. Research. Its various
types are as follows: . . . .
1) Survey Research : • · •• •
Survey research is a technique whereby the researcher studies the whole
population with respect to sociological and psychological variables. Survey
research studies Jarge and small population b_y selecting and studying
·samples chosen from the population. It is mostly devoted to the study of
characteristics of the population under investigation.·survey research is
approached through· the method of personal interviews, mailed questionnaires
and personal .discussion• besides indirect ora,l investiga n. The success of
survey research depends upon the willin.gness and the co-operative of the samp!e
sel cted for_the study. The different categories of survey
are personal 1nt rv1ew. mall questionnair and panel technique and
"" ,e su,vey. ••
2) Cale Study Research : . .
The case study is n intens·ive· study through which one ·k • .
f ard causes of a particular phenomenon ft : can. now precisely the
colecting information about an individual,a famil ra ,sa very- good
method of
may be gathered exhaustively of an enti •rt Y gro p.of persons. Case data
1
section of it. Study of social psychology .; ' cycle.ofa social unit or a definite
testimony. It ii considered as gatewa wd1 dout case study is like a law court without
d la , Y an estlnation to b t .
 y,a rge v nety of u.nlts is selected for a s act knowledge. In this
stud. 8nd the size of the unit may be
quite large to cover an entire community It Y
t
ft deals with every aspect of a unit and
I
dt s _at de p and through study of a unit.
8u es it 1ntens1vely.

Sharp's NotBS
 M.Com. (Sem. - Ill) Research Methodology for Business
3) Action Research :
Appfied research is also known as action research. It is a recent addition to the
categories of research. The aim of applied research is to discover a solution for
some practical problems. It is concerned with search for ways of using scientific
knowledge to solve practical problems. It is a research through launching of a
direct action with the objective of obtaining workable solutions to the 91ven
problems. The methods used for this type of research are usually personal
interviews and the survey method. The personal ·values of the individuals are
one of the problems associated with action resea·rch. •
4) Evaluation Research :
Every country in the world i intensively engaged in implementing target-oriented
planned programs. There is need to evaluate these programs or projects in the
.context in which they are la_unched. Evalua ion. researchis concerned with
measuring the effectiveness of these programs. Evaluation research is primarily
directed to evaluate the performance of the developmental projects and other
economic programs that have al ady· been implemented. Concurrent evaluation,
phasic or periodic evaluation and terminal evaluation a_re the three types d
evaluation 'resea·rch. Concurren evaluation is-a continuing process of an
inspection of the project that has been launched. Phasic or periodic evaluation
takes place at different -phases or stages of J?erform nce of the project. Terminal
evaluation is the evaluation of the final phase of the project.
5) Descriptive vs. Analytical: •
Descriptive research includes surveys and fact-finding enquiries of different kinds.
The major purpose of des riptive research is description of the state of affair , as it
exists at pres nt. In social science and business research, ·we quite_often use the
term Ex·post facto.research for descriptive research studies. The main. haracteristic
of this method is that the researcher has no control over the variables; he can only
report what has happen d·or what is happening. Most ex post facto research
projects are used for descripti'{e studies in which the researcher seeks to measure
such ite,:ns as, for example, frequency of shopping, preferences of people, or
similar data. Ex post facto studies also include attempts by researchers to discover
causes even when they cannot control the variables. The methods of research
utilized in deloriptive research are survey methods of all kinds, including
comparative and correlation methods. In analytical research, on the other hand,
the researcher has to use facts or information already available, and analyze
these to make a critical
• evaluation of the material. •
8)
Applied va. Fundamental:
Research can either be applied (ur action) research or fundamental (to basic or
Pure) research. Applied research aims at finding a solution for an immediate
problem
-. facing a society or an industrial/bus1nass organisation, whereas fundamenta
Sharp's Note
M Com. (Sem. _111 • Research Metho:o!oby f r Bu•! ••
• coming up with conclusions which are capable of being v r ,e Yo hserva ,on ohr
• t we can also call it as experimental type of research. In sue e researc ,
expenmen • I I t b t d •
it is necessary to get at facts firsthand, at their source, and act ve Yo goa ou oing
certain things to stimulate the production of desired Information. In ucha research,
the researcher must first provide himself with a working hypothesis or guess as
to the probable results. Researcher then works to get enoug facts ( a ) to rove
r disprove his hypothesis. He then sets up experimental designs which he thinks
will manipulate the persons or the materials concerned so as to bring forth the
desired intormation. Such research -is thus characterised by the
experimenter's·control over the variables under study and his
delibera_temanipulcition of one of them to study its effeds. Empirical research is
appropriate when proof is sought that certain variables affect other variables in
some way. Evidence gath.ered through experiments.or
. empirical studies is today considered to be the most powerful support possible for
a give.nhypothesis. •

Q.5. Explain the Steps in Res arch Pro.cess•. ..f <{) 1 -

Ans: The proces of research involves the folfowing st ps:.
1) Fonnulation of Research Problem:.
The formulation of a general topic intd a specific research .problem is the first
step·in a scientific enquiry. It must be influenced by requirements of the scientific
procedure. The formulation of problem is composed of three aspects:
i) The specificatio of the·unit of analysis for the study.
. ii) The ,identification of the particular un1ts within the scope of study.
iii) T:he specification of the kind of information .sought concem_ing those units.
Understanding the problem nd rephrasing the same into meaningful terms are the
two steps involved in formulation of research. • • •
2) Survey and Review of Literature :
This is the -second step in research. After formulation of research problem, it is
necessary for researcher. to undertake extensive literature survey. What others have
said about this topic, what theories·have·been addressed to it and what are flaws in
the_existing research can be un_derstood through literature review. A systematic
reveew of the related literature can show-How another researcher handled a similar
problem. It can suggest a method of deat'ing with the problem. It can help the
researcher to evaluate his or her own research by comparing it with the efforts made
by the others.
3) Formulation of Hypothe1la :
The t h i rd step is to form II te • ·
101 t i o n IJ one or more hypothesis. The suggested explanation or
h u . to th.e problem formulated •• a proposition is called a hypothesis A good
YPothesis
should h must be conceptuall . IYc ear
d 1an t
•
ahouId be related to a body of theory• 1t
ave vanables which could be put to empirical test. Hypothesis is ne er
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Sharp's Notes
 NI.Com. (Sem.. Ill) • Reaearc·h Methodology for Busi a'!._
formulated in the form ofa question. It should be empirically testable. Th
st
atement of the hypothesis should not be contradictory.·statement of
hYP0thesis muS\ be
sharp, operative and testable.
4) Research Design : R r b' .
Planning research design is the fourth step in the process of research. e ia_ility
and validity of the research requires the detailed strategy of how ther se ch_will
_be
• conducted. The designing is concerned with maki,:-g controll _dscientific
m_quiry. Research design provides the blueprint ·for the research. It limits
bouodanes of
research activity. It enables investigation to anticipate potential proble':11$. Research
design offers a guide-that directs the research action which reduces timeand cost.
The research design differs according to the research purpose. Researcher has to
prepare the practical research design.
5) Selecting Sample: .
The fifth step.in·research is selecting a sample. A sample is any number ofpersons,
units or objects selected to represent the 'universe' or 'population' .according to some
rule or plan. The researcher is expected to draw a sample from the 'univ rse' in
such a manner that the findings based o·n it will correspond closely to tho·se that
would have been obtained from the study of universe. The researcher has to
select the sample in sµch a way that the selected sample is suffi
iently·representative of the 'universe'. Sample is part of a whole, taken to show
what the rest is like.
6) Data Collection: ..
The sixth step is actual collE:ction of fa<?ts and infor ation in· accordance· with
the research design. Having drawn· an adequate sample from the_'universe', the
researcher proceeds to administer the measuring instruments o_r tools of data
collection on the items 'in the sample. Researcher has to ensure that the data.are
re able and free.from bias. Colfecti_on involves the basic definitions for the
concepts to be investigated, specific field procedures and the c;tesign·of
instruments for recording the actual data. A vast ·amount of historical as well as
current statistics, ranging from various census publications t_ospecial pu'rpose
survey of particular industries and products are already·available through
Government publications. For example, each and every district of the India has a
'District Statistical Office'. Every year this office publishes a broad survey report of
concerned district. Report is named a$,·socio-Economic Survey .of the District......'
A wide range of statistics is
available in this survey rep.ort.
7) Data Analyale :
The seventh step in research is the analysis of data. The purpose of the ana'lysis is
to summarise the completed observations in such a manner that they yield answers
to the research questions. Researcher has to classify. tabulate and compare the
data to get the results. Data analysis seeks t determine how the units covered in

Sharp's Notes
r
M.Com. (Sem.. Ill) . Research Mathodolo Y for Bualheaa
Q.6. Explain the Relation between ReHarch Method• and Researc
Methodology. Or
between Reaearch Method• and Research
Explain th• difference
Methodology.
AnsR: etnsetraordchucmttoetnh:ods are the various procedures, schemes and
algorithms Used in research. All the methods used by a researcher during a
research study are termec es research methods. They are essentially planned,
scientific and value-neutral, They include theoretical procedures, experilnental
studies, numerical schemes, Sllltistieal approaches, etc. Research methods help
us·collecl samples, data and fir\d a solution t oa problem. Particularly, scientific
research methods call for explanations
based on collected facts, measurements and observations and not on reasoning
alone. They accept only those explanations which can-be verified by experiments
Research methodology isa systematic way to solve a problem. It isa science
of studying how researc.his to be carried out. Essentially·,the procedures by
which researchers go abo t their wor of describing, explaining and predicting
phenomena are called resear_ch methodology. It js also defined as the study of
methods by which knowledge 1sgained. Its aim is to give the work plan of
research. The difference is
as follows. •
Points Research Methods• Research Methodology
of
Difference Research methods,. •are the esearch methodology I in
Meaning means, the• instruments or simpler terms is the manner or
the tools · particular the approach the. investigator
investigator chooses to adopts in answering his/her
accumulate the i fo afion research question.
required to answer his
research question. :Method_ology. is the rationale
Definition
"Methods ar t_he vehicles and nd philosophical assumptions
processes used to·gather data." underlying a particular study
• rather than • a collection of
methods,• though methodology

I leads to and informs the

methods."

I Nature Research methods are the Research methodology explains

methods by which conduct • the methods by which o
research Into topic.
a
subject or a proceed with
research.. ne may

Sharp's Notes
 ,...com. (Sem. - Ill) Research Methodology for Business
- --Techniques Research methods involve Research methodology involves
conduct of experiments, tests, the learning · of the various
surveys and the like. techniques that can be used in
the conduct of research and in
the conduct of tests,
experiments, surveys and critical
studies.
Aim Research methods aim at •Research methodology aims at
finding solutions to research the employment of the correct
problems. procedures to find out solutions.

Q.7. What is usiness Research? Explain·the Need, Objective & Nature of

Business Research.
Ans: Introduction: . .
Business research is an important management activity that helps companies to
determine the products which· wtll be most profitable for companies to produce.
Several steps are riecessaf}' when·.conducting the business research; each
step must be thoroughly· reyiewed to ensure that the .best decision is made for
the company.
Busjness Research:
A) Meaning:
The bu iness research method is how companies collect information from
consumers or bus.ine.ss-to-business c'ustomers. Some business research is
conducted among smaller·groups of Pei?Ple, .with the objective of clarifying
research content. For example, a restaurant <;;<>mpany may test six menu items
but try to find
the best twq for further' research: Other business research is for garnering
explanations of customers' purchases or buying habits. Tbere are several key
steps in the business research proce.ss. Business research is a systematic and
objective process of·gathering r cording and analysing data for d ision-
making..The research must he systematic not haphazard. It must be objective to
avoid the di$torting effects of .-personal bias. The aim of applied research is to
facilitat managerial decision-making. Basic or pure research on the other hand is
used to test and build specific theories and·concepts. • •
B) Definitions : .. •
Definitions of Business Research are as follows:
1) McDan1el.& Gates:
"Business research is the- collection and analysis of data relevant to business
decision-making and the communication of the results of this analysis to
management,,, •

•. Sharp's Notes
 thodology for Buain11
Re•earch
M8 '
M Com (Sem...Ill) •
• • • . use to reduce uncerta;nt c
21 search Isa management toolthetc mp;: ;!ational and environmen,1
Zikmund.:
Busmess re r' source of infonnstionsbou o ge planning to the rnosi 1
It is 8 manage s .s ranging from long-ran . •
conditions and c o v e. top,c
hemeral tectical dec1s1ons. .
L.r Studying Business Research. d f studying businessresearch.
C) ,v . f d' • ssion for nee o
Thefollowing points give a bne iscu ,
1) product Analysis: . .research. Companies must find a
Productanalysis is the first step of business • d r the product will fail in the
product that meets or exceeds consumer e anf: an existing product hat can
economic market place. One type of analysis is to tym of product analy is will find
· f Another p• ehich_a. llows for compani•es
beimproved through des ign or e 1
atuces
• to
emerging markets with high demand and low supp y'w
.• sell new products to meet
consumer demand. • . •
2) Market Analysis: . . how much profit may be
• d t arket analysis to determine
Companies will con uc a m t . look at which stage of the business-
earned from current demand. Managemen WI. 11 • linin Each sta e
cycle the market is currently in, whether emerging, plate.au, or de g. 9
t
has its own1.evelof·profitability, with the first ·stage be1 g the higheS_a nd th
el
st
stage being the lowest profit bility. A mark.et analysis will also determine the nee
points at which products .can be sol ; for example, high-quality products.at _a
higher price may not tempt consumers to start buying the product based on
qualityitself.
3) Financial Analysis: • • • •
A financial analysis determines the cost 9f each production .item u_sed to produce
goods and services. High costs may-not allow companies to ptice goods or services
competitively, leading to an unprofitable situatr<;>n. Management will examine the
. costs of raw materials, labour, ·and manufacturing overhead to· find the best raw
goods available to produce the mo t profitable product. Management will also
review the be t cost application methods, ensuring that all production costs are
proper applied to each product o service produced.
4) Competitor Analysis:
Anafyzjng the current competitors of a market is. an important part of business
research. Knowing which companies have the best production methods or customer
loyalty helps new companies understand h o w. they . can create a competitive
advantage when entering a new market. Proper business research will also indicate
how financially stable companies are and if they can be purchased outright .by a
company wanting to enter the industry. Buying a competitor may be cheaper than
starting new operations for a company.

-1.17- Sharp's Note5

 _ Ill) R••••rch Methodolog y for Bualn•••
M Com. (s em. _ . --
-,· Objectives of Bualn••• R••••rch:
D The following object1ves which encompass most of the reeearchea are listed:
1) To seek insight:
The first objective is to seek insight Into observed phenomena and explain its logic
and.reasoning of happening. For e.g., de llnlng profitability. .
2) To help Mankind:
To help the mankind in solving the problems faced from time to tirtle' and make life
. more comfortable and entertaining. For e.g.,: tel comni\micating a_nd e-ticketing.
3) To Explore: .
To explore the possibility and methodology of doing things which have not been
done so far but are useful for the mankind, in general and an entity, in particular.
Explore into new are.as that ·might have become .r levant or even might become
relevant in the near future. E.g., alternative sources· of energy to reduce carbon
emissions.
4) Continuous Improvement: . .
To continuously improve the effectiveness of pre.sent systems and procedures in
any field e.g. compensation,,recruitment and retention policies.
5) Testing Challeng s or Beliefs:
The foremost objective of business research is.to.test or challenge existing beliefs,
notions etc. which have not been empirically proved so far with flux of time and
erefore need to be tested again for relevance in.the changed·context/environment.
For e.g. relationship between·intelligence and creativity.
E) Nature of Business Research:
Nature of business research explains with following points:
1) Applied Research:·
Business research·is almost always a·pplied research. It means that ·it is problem
oriented and decision oriented. Its objective is to obtain information to help solve a
specific business problem or make a decisiol'). The research is ordered by
man ement, so it is decision oriented. It is useful because it offers information and
alternative possibilities among which management can choose·in making a decision
in the course of resolving the problem situation. •
2) Time Umit :
Business research tends to have a time limit. In nearly all cases, the research must
be accomplished within a given space of time. It makes little sense to gather
information about a decision that was made three weeks ago or to get information
next week that we need today. Information is highly perishable. It gets old and
useless very quickly. •
• 3) Dynamic Nature of Environment :
Business research is done in an envlron111eht in which conditions change rapidly.
The style, the demand s. an d the supplies .and materials available are
constantly
-1.18- I I;
I
... ,_ .. _...
 Sein. _ 111) Research Methodolog for Business
om. (
M Cconsider all the risks that could result from this kind of study and attempt to minimize
them.

Q.9. Discuss in detail about the Plaglarlem.

Ans: Introduction: 11

The word "plagiarism" is derived from the Latin term plaglare" This means to kidnap
or abduct. Plagiarize Is copy another person's idea, words or works and pretend
that they are your own. U is infecting more than simply copying someone else's
work. However internet and subs_equent proliferation of information has made the
problem more serious. Plagiarism usually discovered by_scholars and researchers
during the continuance of their research work.
Plagiarism:
Many people think of plagiarism as copying another's work, or borrowing someone
else's original ideas. But_terms •like "copyin_g" and. "bo.rrowing" can disguise the
seriousness of the·offense.
A) Definition:
According to the.Merriam-Webster on Line Dictionary, to "plagiarize" means:
1) to steaJ an-dpass off·(the ideas or words·of another) a·s one's own
2) to use (anther's production) without crediting the source •
3) to commit literary theft .
4) to present as new and original an idea or product derived from an existing source.
In other words, plagiarism is an act of fraud. It involves both stealing someone else's
work and lying about it afterward.
AH of the following are·considered Plagiarism·:
a) turning in someone else work·as your own
b) copying words or ideas from someone else without g_iving credit
c) failing to put a quotation in quotation marks .
dJ giving incorrect information about the.source of a quotation .
e) changing.words but copying the sentence structure-of a source without giving credit
f) copying so many words or ideas from a source that it makes up the majority of
your
work, Whether you give credit or not• · •
Attention! Changing the word of an Qriginal source is not sufficient to prevent
• plagiarism. If you have retained the essential idea of an original source, ana have
not cited :it, then no matter how drastically you may have altered its context or
presentation, you have·stiff plagiarized
B Types of Plagiaritrri:
1) Copy and Paete Plagiarl•m:
Any time you lift a sentence or significant phrase intact from a source, you must use
quotation marks·and reference the source. •

.Sharp's Notet
M.Com. (Sem. - 111) i
15) Propoaltlona which deacrlbe th h • R••••r<rh Methodology for Buslneee
•· Descriptive •c aracterlatlc• are •••••••••••••Hypothesis:
· c. Relational b. Imaginative
d. Variable
Anawers: 1) d, 2) c, 3) d 4) c &)
d, 1 5 a) ' • c, I) d, 7) o, 8) •• 9) d, 10) d, 11) . 12) c, 13) b, 14)

Lonu Answer Questions

Q.1. . What do you mean b
Techniques involved r 0
eflnlng Research Problem? Explai in detail
Ans: Introduction: n Deflning·Reaearch Problem.
Identification of a r.esearch . •
most difficult phases of pr blem is the first step in scientific inquiry. One of the·
any sc1entif • • •
beginner is likely to tak • ic '".qu i 1 s the choice of a suitable problem.
Tt)e
any research the resee Vert long time in making his choice. In this first step
of which come to his r worker should not take a hasty decision. Every
problem, may not bea fit resmmh or ven that suggested by a more
experienced person,.
should be consideredeardc. p r o b l e ':_'1T. he identification of a good research
problem
a 1scovery m itself.
Research Problem:
A) Concept of Research Problem:
A prob em in si pl.e o ds is some diffic lty experienced by the res rcher in a
.theoretacal r practical situation solving this difficulty is the·task of research. The
problem_defines the goal of the r searcher in clear.terms. Thus, without a problem,
research cannot proceed because there is nothing 'to processed from and proceed
toward. In·social sciences, quite·a number of researchers-·may be faced with.this
problem, i.e., the problem of ot being able to see·a problem. It becomes·pre
requisite to make the problems concrete and exploit as a first step in formulation of
research. The sel.ection of a research topic may be determined by other than
scientifi.c nsideration. The formulation of the topic into·a research problem is
the
first step ina scientific enquiry. It should be influenced by the reqt:iirement of the
scientific prooedure. However, there is no foolproof rule which will guide the
investigator in formulating significant qu stions about a given research area.
B) Defining the Research Problem:• •
· The problem definition is the result. of a reasoning process conducted by th
researcher in order to translate the phenomena to be examined intoa (scientific
f8$8archable (and relevant) research problem. Therefore, a pr blem definition is th
researcher's product as he creates a certain formulation in order to define th
 problem from tiis per pectiv8 (based 9n his present knowledge andexperience).It
· important not to forget thata problem d ltion often
contains quite some symbolis
_ _ _ Sharp'.s Not
2 3
 Re••• rch Methodolo
. for
h Bu1h,,,,
M.Com. (s.tn.• Ill • definition consists of bo a resear
and tends to be rather abstract. Aproblem , . thesE precisely establish \AAC. h
earch question, .. ·t h ·•11 1
objective and a logically derive d res • h' h (pre) condItIons I s OUld taL
needs to be exam ined
. h and under•w icasoning at>ou•t enomena i nt n" '
w h
d Y p
an 1
p\ace.
This question is often basedo_n comp ex r:erive content and create rneani:
organisationguided by theoretical notions. These • . '\I

given its relevant context. .

1
C) Technique• Involved in Defining a ResearchProb_em. h problem they area
There ate some techniques involved in defining researc 11

follows:
1) Statement of the Problem in a General Way: . in view either -sorn
The problem should be stated in a broad generalway, keeping th e
practical concern or some scienfific or intellectual .intereSt Hence e. res a c r
must immerse himself thoroughly into the subject matter concernm wb tc • he
· · · ·t • considered advIsa le to do
w ishes to pose a probtem. I n case of soc ial , 1 1s
• h
rese arc
some field observation and as such the ,researcher may undertake some sort of
preliminary survey or what is often called pilot survey. Then the researche n sta
e the problem or h'e can seek the guidance of the ubject expert in accomphshing
this task. The problem stated in the broad general way may contain various
ambiguities,
.which must be resolved 'by cool thinking a·nd rethinking over t e problem. At the
same time, the feasibiHty of a particular solution has to be considered.
2) Understanding and Exploring the Nature of Problem:·.
To understand the.nature of the problem, it should first.be discussed with those
who first raised it, in order to find out how the problem originally.·came aboµt
and·with what objectives in view. The researcher should review again all those
points that induced him to make a general statement for the problem
concerned. The
researcher. should discuss the problem with th. ose·whQ have a good knowledge of
the problem concerned or similar such problems. The environment within which
the problem is to be studied and understood should also be kept in view to explore
the nature of the p oblem.
3) Surveying the Available Literature:
This step involves surveying and examining all the·ayailable literature related t9
the problem before rephrasing the research prol)lem. For this the researcher must
be wetl-conversant with relevant theori s in the field, reports, records and other
related relevant literature. This results in finding out what data and other
information's, if any, are available for operational purppses. This results ·in
knowing if there are certain gaps_in the theories or ,whether· the existing
theories applicable to the
pro.blem under study are inconsistent with each other,.or whe.ther the findings of
the different studies do not follow a pattern consistent with the theoret\cal e
pectations and so on.

Sharp's Notes
M.Com. (Sem. - Ill) Research Methodology for Business
4) Developing the Id••• Through Discussions:
Much useful informatLJh are often produced and revealed when the problems are
discussed. People with rich experience are in a position to enlighten the researcher
on different aspects of his proposed study and 'their advice and comments are
usually valuabJe to the researcher. various new ideas can be developed thorough
such anexercise. Discussions with such persons should not only be confined to the
formulation of the specific problem t hand, but should also be concerned with the
gene_ral approach to the given problem, techniques that might be used, possible
solutions, and so on. •
5) Rephrasing the R search Problem:
At last, the researcher must sit down to rephrase th.eresearch problem into a
working proposition. Ones the nature of the problem is clearly understood, the
environment h s been defined, .discussions· over the problem into analytical or
operational terms is not a difficu·lttask. Through rephrasing, the researcher puts
the resear h pro lem as specific in terms. as possible so that it may become
opera11onally viable and may help in the· evelopment of working hypothesis.

Q.2. Explain the Factors Determining the Selection of Research Problem.

Ans: Introduction:
. . -
!WO sets of factors should be considered in choosing a good research problem.
These. factors are those related to the researcher and those related to the
environment. Such factors as epitomized by scholars are as follows:
1) Workability:
The researcher must consider whether h ?r she has enoug time and funds to
carry out.the.study successful.ly.
2) Methodology: .
It is ne_cessary to consider wheth r it is feasible to adopt what appears to·be the
most appropriate methodology.
3) Coverage:· .
tn gen ral terms, the more restricted the study the more thorough the work is i ely
to be. Coverage refers to both the breadth of the problem and the depth of analysis.
4) lnterest: .
It is obvious tha.the/she would study a problem, which is of inte!est to t e
researcher, more-efficiently than another in-which he/she is not interested.: lntere t ,n
the problem area will·generate enthusiasm in reading extensively about the subJect
and willingness to be,thorough in the analysis..
• • •
• #

5) Theoretical Value: • . • .d ·thin

The work must contribute to knowledge. The study should be property P1ce wi
d • •f 0 r be linked to a
. the context of previous studies. The problem must enve rom
. theory.
' .. ( Sharp's Notes
 Re1e1tch Methodol
M.Com. (Sem... Ill
• 6) Practical Value: - • . However, In all other form,
Basic researchdoe not emphaeiz-e practicalvalue.
research, practical value Is of greet Importance.

Q.3. Define Review of Literature. Explaln th• Importance Review

Literature.
Ana: Introduction: . . . a articular subject ar
A revtew of literature discusses published inform t,on in p both summarizes :
It can be just a II
simple summary of sources, but it generaY ·ew of literature rn
synthesizes avaNable information In some situations the rev, t R .
evaluate the sources and advis the reader• on the mo5t.releva• t et:
literature provides a solid backgro.und for research. They demons rae a the
nd
author has a comprehensive knowledge of the literature of the field·a
canserve
as a useful guide to others.
Review of Literature: •
A) Definition: •
·A review of literature is a comprehensive summary of previous research on a
topic. The review of literature surveys scholarly' articles, books, and
othersources relevant to a particular area of research.". •
.The review should enumerate, describe, summarize, objeqtively evaluate and
clarify _·this- p evious researc . The ljterature review acknowledges the work of
previous researchers, and i n so doing, assu res the read er that your work has
been well conceived. .It is 'assumed that by.mentioning .a previous work in-_the
•

field of
study, that the author·has read, evaluated, and assimiliated that work into
the.work
at hand..
8) Jmportance of a Good Review·of Literature:
A review of litera.ture may consist of_simply a summary of key sources, b_ut in
the socjal scieryces, a review of literat re usually has an or.ganizational pattern
and com ines both. summary and synthesis, often within specific
conceptual ca egorjes. .
, \ I

1) To Demonstrate Understanding:
In a research paper, you can use a literature· review to demonstrate your
understanding of the subJect matter. This means identifying,·summarizing and
critically assessing past research that is relevant to your own .work:
2) To Juatify your Research:
he literature review Isa plays a big role in ju tifylng your study and setting you
research question. This is be6ause examining past research allows you to identif
gaps in the literature, which you n then attempt to fill or address W1th your ow
work.
 M com. (Sem, Ill) R••••rch Methodolo y for Business
•
• ttlng • Theoretical Framework:
3) Se to think of the literature review as the foundations for your study, since .
Jt can- heI P • t' h o d1.
the rest of your work will build upon the Ideas an ex1s mg rnerkarch. Yhu s uss
therein. A crucial part of this Is formulating a theoretical framewod, w c
tcomh_pnhsesit cepts and th eories that your work Is based upon an agains
tne con .
w tc s success will be judged. •
.
,, oevelopfng a Methodology:
Conducting a literature review before beginning research also lets you see how
simitar studies have been conducted in the past. By examining the strengths and
weaknesses of existing research·,you can thus mc;1ke sure you· adopt the most
appropriate methods, data sources and analytical techniques for your own work.
5) To Support your own Findings: •
The significance of any results you achieve will depend to some extent on how
they compare to those reported in the existing literature: W en you come to write up
your findings, your literature review will therefore provide a crucial point of
reference.
If your results replicate.past research,·for instance, you can say that your work
supports existing theories. If your-results are different, thqugh,.you'll need to
discuss why and whether the difference is important.

Q.4. Explain t,..e Types of Literature Review.

Ans: Introduction: . .
It is important to think-of knowledge in a given fi ld • a co_nsisting of three
. layers. First,. there are the primary studies' that .researchers conduct and
publish. Second are (fJe reviews of those studies that summarize and offer new
• interpretations·built from and often extending beyond the primary studies. Third,
there are th perceptions, conclusions,-opin_ion•, and interpretations that are
shared informally that be_come part of the·lore of field.
Types of Literature Review:
1) Argumentative Reviews:
This form examine.s. literature selectively in order ·to upport or refute an
argument, deeply imbedded assumption or philosophical problem already
established in the literature. The purpose is to develop a body of literature that
establish a contrari n viewpoint. Given the value-laden nature of some social
science research [e.g., educational reform; immigration control),
srgumentative
app1oaches to analyzing the·literature can·be a legitimate and imp·ortant form of
discourse. However, note that they can also introdu e problems of bias when
they are used to make summary claims of the sort found in systematic reviews
.
2) Integrative Revh,w: •
 Considered a form of research . that reviews, critiques, and synthesizes
_ r r,esentative• literature on a t(?pic in iin i_ntegrated way-such that new

Sharp's Notes
 M.Com. (Sem. -111) Re1e1rc h Methodolo
enerated.
y for Buaine,,
The b o d_yo
literature f
. .
!ra'meworks and perspectives on the topic arel entical hypotheses or res
arch includes all studies that address related or th same standards as
pnrnary 8
problems. A well-done integrative review meets This is the most common
t 1
research in regard to clarity, rigor, • ndrepllca o n.
form of review in the social sciences.
3) Historical Review: . edent Historical literature
Few things rest in isolation from historical prec . d. f time often starting
reviews focus on examining research throughoura perto o e erged in
th . . . t theory· phenomena e
with the first ttme an issue, conce,p •' . f discipline. Th
literature, then tracing its evol tion w th n.the scholarship - ; familiaritywit
purpose is to place research in a historical context tos 0 . f f t
state-of-the-art developments and to identify the likel directions or u ure
research.
4) Methodological Review: . h th
A review doe.s not always focus- on what s_omeone said [find_mgs], but ow
ey came about s·aying what they say [method of analysis].
Reviewingmeth0dsof
analysis provides a framework of understandin·g at.different levels [i.e. those of
theory,_ substantive fields,·research approaches, and data collection and
analysis.techniques], ho·w researchers draw upon a wide variety of knowl dge
ranging from the conceptual·levelJo practical d,o·cuments for use in fieldwork
in the areas of ontological and epistemological consideration, quantitative .and
qualitative integration,• sampling, interviewing, data collection, and_data
analysis. This- apprQach helps hjghlight ethical. issues which you should be
aware of and consider as you go·through your own study.
5) Systematic Review:. - .
This form ·consists of ·an overview of existing evidence pertinent to a clearly
formulated research question, which uses pre-specified and standardized
methods to identify and critically appraise relevant res_earch, and to collect,
report, and analyz;e data from the studies that are i luded in the review. The
goal is to deliberately document! critically evaluate, and summarize scientifically
all of the research a·bout a clearly defined research pr blem. Typically it
focuses o a very specific empirical question, often posed in a cause-and:-
effect form, such as "To what extent does A contribute to B?" 'This type of
literature review is primarily applied to examining pri9r research studies in
clinical medicine and a11ied health fields, .but it is increasingly bejng used in the
social sciences. ..
&) Theoretical Review: The purpose of this form accumulated
in regard to .
is to examine the corpus of theory that has
an issue, concept, theory, phenomena. The

.. - Sharp's Notes
2.a-
 ·M Com. Ill) , Research Methodology for Business
(Sem-. · I d • t th
-• t· I literature review helps to establish what theoriesa rea y ex,,s e
theore ,ca · • th • h b
relationships between them, to what de ree the existing. eones ve ee_n
investigated, and to develop new hypotheses to b.et e s t e d, O. ften this form 1s
used to help estab!lsh 8 lack of appropriate theories_ or reveal that cu rent
theor.ies are inadequate for explaining new or emerging research problems,
The unit of analysis can focus on a theoretical concept ora whole theory or
framework.

Q.5. Define Hypothesis. Explain the Qualities and Importance of

Hypothesis.
Ans: Introduction:
A hypothesis is an explanation for a phenomenon that can be tested in s·ome way
that ideally either proves or disproves it. For the duration of testing, the hypothesis
is taken to be true, and the goal of t_he researcher is to rigorously test its terms.
The concept is a·very important part of the scientific method, and it also holds true
in other disciplines as well. For exam.pie, some·historians have put forward the
hypothesis that the Salem Witch Trials were brought about by the consumption of
grains contaminated '.Nith ergot, -resulting iri a mass hysteria.• When someone
formulates a hypothesis, he or she does so with the intention of testing it, an he or
she should not·know the outcome of potential tests before the hypothesis is made.
_Hypothesis:.·
A) Meaning: • .
The worct hyp·othesis (plural is· hypotheses) is derived from the Greek word
'hyposthenia· meaning 'to put under' or 'to suppose' for a hypothesis to be·put
forward as a scientific•hypothesis, the sci ntific method requires that one an test it.
Efymologically hypothes_is·is made up·of two words, "hypo" (less·than) and "thesis/'
which mean less than or less certain than a thesis. It is the presumptive statement of
·a proposition or a reasonable·guess, based upon the available vidence, which the
researcher seeks to prove through his study. •
B) Definitions:
Definitions of Hypotheses are as follows:
1) Webster's New International Dictionary of English L nguage:
"A proposition, condition or principle which is assumed, perhaps without belief,
in order to draw out its·logical consequences and by this method to test its accord
with facts which are known of may be detennined." •
2) Kerlinger: .
"A hypothesis is a conjectural statement ·of the relation between two or more
variables. Hypr:,thesis are always in declarative sente ce form and they relate
either generally or specifically variables to variables."

-2.9- .. Sharp's Notes

 M.Com. (Sem...Ill) Research Methodology for Business
D) Importance of Hypothesis
The importance of hypothesis Is as follows:
1) Main Focus of Study :
Hypothesis makes it clear as to what Is to be accepted, proved or disproved arid that
what is the main focus of study.
2) Gives Point to Enquiry :
Hypothesis gives point to enquiry. It makes the enquiry more specific and to the
point.
3) Help to Explain : .
Hypothesis provides a clear and adequate explanation of the facts connected with
the hypothesis. • •
4) Tools of Research :
Hypotheses are important as tools of scientific res·earch. The relationship
expressed in the hypothesis tells the researcher how to conduct inquiry and what
types of data need to be collected.
5) Provides Direction:
Hypothesis helps.in deciding the direction in which to proceed·.1f the researcher
knows the direction, ·he can make·out his path and he can find out the method by
which he can·reach his goal.
6) Helps to Draw Conclusions :
Hypothesis is not only useful in·proceeding in our study on right lines but it'is·also
important in drawing proper conclusions.
7) Save Time, Money and Energy :
t

A clear·hypothesis helps. to save time, money and energy. It helps to avoid

unnecessary actions in res_earch process.
8) Helps in Building a Body of Scientific Knowledge : .
• Hypothesis helps in' building a body of scientific knowledge which is generated
through the route of development of explanation, hypothesis & verification of the
hypothesis, revision of hypothesis,and retesting of hypothesis.
9) Help to Suggest a Theory :
Hypothesis helps the social scie tists to suggest a theory that may explain and
predict events. . . •
10) Helps to Solve the Problems :
A problem can be scient fically· olved if it is reduced to hypothe is form.

Q.6. What do yo mean of Hypothesis? Explain the Types and formulation

• • of Hypothesis. • • •
Ana: A) Meaning:
Pis. Refer Pg. No., 2.9 a.No.: 5 (A)
ti

-2.11- Sharp's Notes.

 "'• •■rcn m•Lnuuu,uyy ,ur DUl)rle,,
8) Definition.: •
Pis. Refer Pg.No., 2.9 a.No.: 5 (B)
C) Type. of Hypothe1l1:
Depending upon the nature of the hypothesis, classification is carried out as
follaw,.
1) R....rch Hypotheal1: •
\\'hen a prediction or a hypothesized relationship is to be teste byscienttt
methods, it is tem,ed as research hypothesis. The research hypothesis is c
predicttve statement that relates an independent variable to a·dependent
variable Usually a research hypothesis must contain, at least, one independent
and one dependent variable. A research hypothesis must be state in a
testab.le form .for It proper evaluation. As already stressed, this form should
indic te a relationship between the variables in clear, concise, and
understandable language. Researcn hypotheses are classified as being
directional or non-directional.
2) Directional Hypothesis:
The hypotheses, which stipulate the direction of the expected differences o
relationship$, are terms as directional hypotheses. For example, the researc
hypothesis: There will be a positive_relationship between individual's attitud
14

towards high caste Hindus and his socio-economic status," is a directional

researc hypothesis. This hypothesis stipulates that individuals with favorable attitude
toward high caste Hindus will generally come from higher socio-economic
Hindu familie and therefore it does '.stipulate the direction of the relationship:
Similarly, th hypothesis: "Adolescent boys with high IQ will exhibit low anxiety
than adolescen boys with low IQ" is a directional resear.ch hypothesis
because it stipulates th direction of the difference between groups.
3) Non-directional Hypothesis:
. A research hypothesis, which does not specify the direction of expected
difference or relationships, is a nor:1-directional research hypothesis. For
exa.mple, th hypotheses: "There will be difference in the adaptability of
fathers nd mother towards rearing of their children" or "There is a difference
in the anxiety level o adolescent girls of high Q and low IQ" are non-
directional researqh hypotheses Although these hypotheses stipulate there
will be a difference, the direction of th cftfference is not specified. A research
hypothesis can. take eiJh r statistical form declarative form, the null form, or
the question,form.
4) Declarative Hypothesis: . .
When the researcher makes a positive statement ·about the outcome of
thestudy
the hypothesis takes the declar.ativ form. For example, the hypothesis: "Th
academic achievement of extroverts·is significantly higher than that of the
introverts, is stated in the declarative form. In such a statement of hypothesis,
the research makes a prediction based on his theoretical formulations of what
should happen
r the explanations of the behaviour he has given in his theory are correct.
_ . _ Sharp'• Note
2 12
 Research Metnouu•uv.1 •-· ---···- -

1Com. ($em. - Ill) . .

0
!·
7)
u antitative and Qualitative: •. data· and it analyze stat1st1cally and
• • ' · . · tc so
Quantitative data 1 s nd measurin d it c at egorizi ng emes, e .
• g . h
counti nga into t
qualitative data is examining narrative data, an .
• t>oth are
very essential.
S) experimental andNatur•l_latic: r ti In Experimental, it comes to
Research must be expenm rltal and nature ' 1 · reactions; and it is quantitative
manipulation of research environment nd obse . g in and .recording ongoing
0., ·functional research data. Naturalistic means observ g . nt It is more
behavior in natural settings, a n_d n o ma m pu • lation of th · e env,ronme • ·
·interpretive but may be quantitative or qualitative.

Q.10.Define Re-search Design. Explain t_he Need of Research Design•.

AnS: A) Meaning:
Pts. Refer Pg. No., 2.16 Q. No.: 8 (A)
S) Definitions:
Pis. Refer Pg. No._,2.16 Q. Nq.: 8 (8)
CJ Need of Resea h Design: •
The need for research design is as follows:•
1) Minimizes the Expenditur.e: • • • . . • ·. •
The research design helps to reduce the expend ture of effort, time and money by
prepa ng the advance plan of all' the rese rch.•
2) Smooth Flow of Research Operations:· ...
Just as for better, economical and attractive construction of a ho se we need a blue
print and a_map of that, similarly·use needs a blue·print or a design of the smooth
flow of the operation of research.··
3) Provide an Overview to Other Exp rts: .
A research design provides overview of a_ll the research process and with the help of
• the design help and the views can be taken of the experts of that field. •
4) It Provides a Direction: .
A resea ch design provides a proper or particular direction·to the_other ex tives
and others who are helping us in to the process·.
5) FacititatN Smooth Scaling:.
Research design is needed·because it facilitates the smooth scaling of the
various research operations, thereby making re_search as efficient as possible
yielding maximal tnformation with minimai expenditure of effort, time and money.
Just as for
better, economical and attractive construction of a house, we need a blueprint welf
thought out and prepared by an expert architect; similarly we need•a rese rch
design.ora plan in advance of data collection and analysis:for our research project.
Resea ch design stands for advance planning of the methods to be adopted for
COllectmg the relevant data.and the te hniques to be used in their analysis,keeping·.
1
• -2.23- ' Sharp' Notes
 h Met ho dology ,or cusine,
d J'\
•. • Re•••_rc . . of stall, time an. rnon Y
---: ava1labillty ny error in it •
.Com. (Sem-. Ill). esearch and the 'th great case asa . tnqy
in view the objective ther_ hould be done WI •
of
Preparation of researchdesigns lain the Stepg i
upset the entire proJect. h Oftlgn? EXP
b Re1e1rc
Q.11. What do you mean Y
Research Design. .;
Ans: A) Meaning: (A)
8
Pts. Refer Pg No., 2.16 Q. No.:
B) Definition•:
Pts. Refer Pg. No., 2.16 Q. No.: 8 (B)
C) Steps in Research Design: . .
Steps in a research design can be given as fol1ows•
•1) Review of Earlier Literature: arch isa preliminary step befo_re
heviewing of the literature on the area of rese . the relevant material
" t· •1 O review a11
t • h w how the problem under
attempting to plan the study. It is essen ,a
I • cessary to s o -
connected with the problemchosen. t 1 ne . uall important to show how
study relates to previous research studies. It' al o eq y h the concernedworks,
his work differs with the existing literature. After 901 9 throug for ulatea correct
one will get an insight into the problem and thus, will be able to . .
plan fof his future investigation. •
2) Sources of lnfonnation to be·Tapped: d'·'d d
The researcher has to tap various sources of information. The sources are IvI e
into documentary and field sources. Field sources include living persons who·have
a fund of knowledge. These persons are regarded as personal sources or direct
sources. Documentary sources of .information a,re those which are containe.d i_n the
published and unpublished documents, reports, s atistics·, manuscripts, letters,
and diaries and so on. •
3) Development of Bibliography :
As soon as the consultation of available source has begun, the development of
bibliography should be undertaken. Each reference should appear on a separate
card or sheet with last name of the author first his initials or given name following
and then the title of the reference, publisher's name and the date of publication.
4) Nature of Study:
Thenext step in formulating research design is to ascertain the na ure ofstudy,
whether it jsstatistical study, case study or decided. Since research study is
complex, thespecific nature of study should be determined early andprecise.ly.
5) Objective, of Study :
Theobjectives ofthe research study should be compiled in clear cut terms: The
objectives, of course differ with the nature of studies and goals to beattained. Some
research studies aim to gather descriptive data or explanatory data or data from
Sharp's'Notes
 Methodology for Business
h
£!!!:. ..:..!! ---- ----=R=e=se:a:r:c _:.;:;;..;:;.:;....---
om- (Sem•• Ill) ,.IMll-.,M!'-"'l fflmm!
, \.,.fff44UiHffl
IIJ•lfJ!l:Ilt1't'4 ts ---- --
sources of Data
Q.i. What is Data Collection? Explain the various
Collection.
Ans: Introduction: . information on variables of
Data collection is the process of gathering a d measuring t O answer stated
interest, in an establishing systematic fashion that e ables on;h d ta collection
research questions, test hypotheses, and evaluate outcom s. a. • d soc·,.al
1
e
. •.
component of research 1 s common to·all f ields of Y i•ncu1 ding Phys1ca an .
• d
stu
sciences, humanities, busjness, etc. while methods vary by discipline, he m haSIS
on ensuring.accurate and honest collection remains the same. Data collection
,son_e
of the most important stages in conducting a research, 1• f the desi•gni•ng research 1s
ry well in the world and cannot collecthe·re uired data, and then it may happen
to fail the project.
A) Meaning: . .
Data collection is the process of gath ring and measuring data, information or any
variables of interest in a standardized and established manner that enables the
collector·to answer or ,test hypothesis an·d -evaluate outcomes:of the particular
collection. This is an integral, usually initial, component of any research done in
s
any field of study such the·physical and social sciences,. business, humanities
and
others. T he task of data collection begins after a research problem has been
defined and- research design/ plan chalked out. While deciding about the method .
of data
collection to be used for the-study, the researcher sho.uld keep in mind two types
of data v!z., primary and secondary. The primary data are those which are collected
afresh and for the first time, and thus· happen to be• original in character. The
secondary data, on the·other hand, are those which have already-been collected
by someone else·and which have already been passed through the statistical
process. The researcher would have to decide which sort of .data he would be
using (thus coUecting) for his study- and accordingly he will have to select one
or the other
..method of data ollection. The methods·of collecting primary and secondary data
differ sjnce primary data a e to be originally c?llected, while in case of secondary
data the nature of data collection work is merely that of compilation.
8) Source·s of Data:
A significant and distinctive stage of research in.any science is the collection ·of
necessary information to prove their hypothesis. For this purpose, the researcher
should look to diverse sources which provide the necessary information. The
sources of information are generally classified as primary and secondary, whileP.V.
Young ;eels that sources of data can be divided documentary and field sources.
There are two sources of data: •

-3.3-
Sharp's Notes
M.Co .(Sem. s (primary data). econda,-Y data). d for the first time, and thus
1) Pnmary sou s-desk r search (s 11ected afresh an t d or generated by th
2) Secondary source those whic'1 are co f mation colleCe e
The primary d a_t aa e I incharacter or In or diatelY at hand.
n to be ongina rojecl Imme .
happe th purpos of the P d Importance
researchr tor Methods an Of
. i ary Data? Explain the
Q.2. What ,s Prm .
Primary Data. her directly collects data
Ans:Introduction: ..inal sources from which the re ea:cof data directly by the
Pnmary sourc;i:::o;;eviously collected e.g.. col:c loyalty and other aspects
that h; :r : br.and awareness, brand preference, y interviewing them. Primary
resea le of consumers h d such as
of consumer behavior froma .samp d through various met o s
data are first-hand information collecte
observation, interviewing, mailing e_tc.
A) Meaning: . ur• ose for the first time, from
Data collected by the inves igator for _his_ow I pt fro the source of origin. In
beginning to end, is called prn,:i ry data. It iso.e :e process ( J-investigation are
the words of Weasel "Data or_iginally colle t ,n • d inve tigator is the
known-as primary data. Primary data are original. The concerne .
first person to collect th_isin.formation. The primary data are t er_efo e_,first-
nd
ha
information.
B) Methods of Primary Data: • .
FoUowing are some of the s?urces of primary data.
1) e·xperiments: t

Primary Data collected via experimentatioh. Experimentation is the practice of

gathering data by selecting matched groups of people; giving them different
treatments or scenarios,· controlling related 'factors in their· environments, and
checking for differences -in their responses. Experimentation gives us "causal" data.
Causal data helps us e plain cause anq effect·relation.ships. Experimenting helps us
try to give answer of "why" someone is doing something, and what influences t eir
buying behavior. A common example of_experimentation is price testing. To the
buyer, price will be the final emotional factor that determines whether they will
give us their hard-earned money. Depending on the product and market segment,
price may be the most important factor. For knowing the answer of, what price is
the right price? Do various tests. Many ·companies will test certain prices when
collecting pri a r_yda ta , then developed a new Item. Experiments require-an
artificial or natural se ,ng ,n which to perform logical study to collect data.
Experiments are more su,table formedicine, psy hological studies. nutrition and
for othersci.entific studies.
 Research Methodology for Business
,...com. {Sem•• LIi) - - trol over the influence of any
In experiments, the experimenter has to keep con
extraneous variable on the results.
'
2) survey: f urement in applied
social survey research is one of the most important areas O meas • t
search. The A rvey" can e s o
thatbroad
involvearea of survey research encompasses any measburemhenrt
II

rerocedures asking questions of respondents.

P su_
depth interview.
paper-and-pencil feedback form to an intensive one-on-one, -
These are divided into two broad areas: Questionna•_res and
Interviews.
i) Questionnaire:
It is the most commonly used method in survey. Que.stionnaires are• a list of
questions open-ended·or close-ended for which the respondent gives answers.
Various methods of Questionnaire may conducted via telephone, mail, live ina
public area, or in an institute, through electronic mail o through fax and other
methods. • •
ii) Interview: . .
lnterview is face-to-face conversation with the respondent.·In interview the main
problem arises when the respondent deliberately hides in.formation otherwise it is
an· in depth source of information. The interviewer can not only record the
statements the interviewee speaks but he can observe the body langu,age,
expressio!1s a d other re ctions to the questions too. This
enables theinterviewer to draw conclusipns easily.
3) Observations:
Observation is the collection of Primary Data through observing people, their
actions, and the situations they are in..Observation may be the eas.ie$t research to
do. Typically, observation is also the most cost effective method. Observation also
help to collect the dat from·people that they aren't usually willing to tell themselves,
such as their feelings, emotion$, •attitudes, o_r t h e motives behind their buying
decisions. There are two possibilitie when observing people, first that observing
person know that he is under observing otherwise he don't. In addition,
observations made in natural settings as well as in _artificially created enyironment.
C) Importance of Primary Data: .
Importance of Primary. data cannot be neglect. A research can be conduct without
secondary data but.a researc based on only secondary data is least reliable and
may have biases because human beings have alFeady manipulated secondary
data. In statistical su,veys, it is·necessary to get information from primary
sources and
. work on primary data: •
1) Validity: .
Validity is one of the major concerns in a research. Valid,ity Is the quality of a
research that makes it trustworthy and..scientific. Validity is the use of scientific-
. . -3.5- Sharp's Notes
 M thodol0BY IVI Q"'v111._,
8
Research • primary d t .
M.Com.(Sem. -111) . acceptable . Using. . a a 1n
methods in research to make it log1cal and irst-hand information obtained _lrllt\
. researchcanimprovesthe validity of research.F pulation will yield data thatw1111ie
a samplethat is representative ofthetarget po
valid forthe entire targetpopulation.
2) Authenticity: ch Authenticity can be at stake iflhe
Authenticity ,sthe genuineness of the resear . j ding informa.tion tn theresearCh
researcher investspersonal biases or uses mis ea uthentic if the methodschosen
Prima,y research tools and data can become more ably suitable for the data
tvPe
to anatyzeand interpret data .are valid
nd reasonfa cts have not beenoverdone
• b cause the a •
Primary sources are more authenti. e rce hides information or altersfact
Primary source can be less authentic if the so can. be employing to ensurefactu
due to some personal reasons. These m thods • _
yielding of data from the source.
3) Reliability: • . : to•be trusted on.
Reliability is the certainty that he esearch 1s enough true
• • D ta
Q.3. Expl in the AdVantages and Disadvantages _ofPri m ary .a •
Ans: Following arethe·advantages and disadvantages of primarydata._
A) Advantages of Primary Data: • •
The following are some of the important a vantages of this type of data.
1} First Hand Information: .
Primary data are the first-hand account of the situation. Human beings
canobserv
the phenomenon as it is taking place..
2) Reliable Information: • . .
There is greater scope for reliability of the information. A'$ the investigator collec
the data for him, he can take all precautions to ensur the reliability of data.
3) Starting Point: . .

Primary data are the logical starting point for research in several disciplines. Unl
someone ,-gathers and accumulates ,fact. or information, there is nobody
knowledge.
4) Only Source:
For knowing opink>ns, personal qualities, attitudes, 'etc., primary data are the o
source.
5) Targeted Issues are addre11ed:
The organizatl n asking for the research has the complete control on the proce
1
the rese rch 1s streamlines as far as its objectives , and scope is concern_
Res rching company can asked to concentrate their efforts to find·data regard
specific market rather than concentration on mass market.
-3.6- Sharp's Not
 "'com• (Sem•. Ill) - R••• rch M9-thodology for Business
1nttrpretation la better:
,, Marketer hasexamined and in erpreted of collected data It is depending ontheir
needsrather thanrelying on the intetpretat1011made by collectors of secondary
data. efficient Spending for Information:
un
7) like secondaryresearch Where the marketer may spend for information that is not
needed,primary data collections' focus on issues specific to the researcher
improves thechances that research funds will be spent efficiently.
t) oecency ofData: . . .
nd
usuallyseco ary data ts not so recent and it may-not be specific to the place or
sitUation marketer is targeting. The researcher can use the irrelevant seeming
information for knowing trends or may be able to find some relation with the
current scenario.Thus, primary data becomes -a more accurate tool.
' S) proprietary Issues:. •
tnfqrmation collected by using primary research is their own and generally, it is
not sharing wtth others. Thus_, information can be kept hidden from
competitors and potentially offer an "information •advantage" to the company
that undertook the primary research. This gives an edge over competitors
replying on secondary data.
10) Addresses Specific Res arch Issues:.
Carrying out their- own research allows the marketing organization to address issues
specific to their own situati9h. Primary research is designing to collect the
informat on the marketer wants to know (Step 2) and report it in ways that _benefit the
marketer. •
11) Greater Control: •.
Not-only does primary research enable the marketer to focus·on specific issues,
it also enables the marketer to have a higher level of control over how the
information is collected. _In this way,·the market r can decide.on sucn issues as
size of project (e.g., how m ny responses), location of research (e.g.,
1
geographic area) and time frame for completing the project.
B) Disadvantages of Primary Data:
The chief disadvantages of Primary Data are as follows:
1) Expensive: .. 1 •

Collection of primary data- is expensive in terms of both time and m.oney. To

accumulate the needed data, we may have to spend, sometimes, years too. Imagine
the cost involved in such an effort. It is for this reason;.individual researchers try
to limit their scope to a manageable level, unlike the studies undertaken by
research organization$. •
2) Scope for Bias:
There is greater scope for' bia$ _ofthe resea·rcher. Unless the research investigator
s fair to the respondents and methods of data collection, the results of the
study will not be reliable. • •
Sharp's Notes
 M.Com. (Sem.. Ill) Reeearch Methodology for
3) Problem of Sample Selection: . f primary d t
•
h collectiono a 1
Sample selection is yet another problem In t a f I
8 sea(cher must •
1
conclusions of the study are to be meaningful, t er:;resentative samp :
representative sample. However, the selection ofsue . 11

an easy task.
4) Limitations of Methods:
·ect1·ng primary • data turn out t"
The limitations of the methods Of Coll i
disadvantageous for "
these·sources.
5) Time Consuming: ment and
To be done correctly primary data collection requires the deve1opd rt k execll&
ofa researchplan. Going from the start-point of deciding to une a a resea1
th
project to the end-point to having results is often·much longer t an e·ti e, rt
ta
toacquire secondary data, which can be collect in much lesser timeduration.,
6) Inaccurate Feed-backs:
In casethe·research nvolves taking·feedbacks from the targetedaudience, the1
th
are high chances that feedback given-is not c.orrect. Feedbacks by eir basicnattir
are usually biased·or given just for the sake of it.
7) More number of Resources is required:
Leaving aside cost and time, other resources I* human resourc s a dmateriaq
are n e e. d in larger
. . quantity to do surveys
. and data collection.

Q.4. What is Secondary Data? Explain the Characteristics and Importance

. ·. I .
• of Secondary Data.
Ans: Introduction:
Secondary data is d ta collected by othe perso·•n ·except the research.er.
Common
sources of·secondary data for social cience include censuses, organization
records, .. a.nd data collec. ted through qualitative methodologies or q.
ualitative
research. The investigator conducting the research,· by contra t.. collects primary
data. Secondary data analysis saves time that would. otherwise be spent
collecting data and, pa icularly i the cas.e of quantitative data, provides larger
and higher· quality databases that would be.unfeasible for any individual researcher
to collecton their own. Inddition, analysts of social and economic change consider
secondary data essential, sin e it is in:,pos ible to conduct a new .survey that can
adequate capture past change and/or developments.
A) Meaning: •
 Secondary data means data·that are already available i.e., they refer to the data
which have already been colleeted and analysed by someone else. When the
researcher utilises secondary data, then he has to look into various sources frortl
'
r.'!'I ""'!'. -_-------------3 -8-------.......; S_h_arp-,s-N-;;
 If.Co - (Sem-. Ill) . . . . R• ••rch Methodology for Business
w.here he can obtain them. In this case he 1s certainly not confronted with the
problems that are usua_lly associated with the collection of original data Seconda
data may either be pubhshed d ta or unpublished data. ry
S) Characteriatica of Secondary Data:
The characteristics of secondary data explained below:
i) Insight into Toti.I Situation:
The purpose of the available materials is to explore the nature of the data and the
subjects to get an insight into the total situation. Whil,e looking for the data
required by the researcher he may uncover more available data than are often
assumed to exist. This contributes significantly to the unfolding of hidden
information.
2) Helpful in Hypothesis Formulation: • .
The secondary data helps in the formulation of research hypothesis. While an
investigator may have one or two hypotheses, which he might have deduced from
theory, the study of avail.able materials may suggest furth r hypothesis. If a
research, idea or hypothesis can formulated·in such a manner! That the available
recorded material bears on the qu stion, the-use of such ma.terial become
possible.
3) Supplementary tnformation:
Available documenJs may'be used to supple ent or to check information·gathered
specifically for the purposes of a given investigation.
. 4) Cost, Time and Effort Saving.:
In s ndary data, someone else.already creates information. Therefore, it-·saves
cost, time,
.
and effort. The researcher gets accurate and ready data.
.
5) Helps in Testing the Hypothesis:
The available records may help in testing the hypothesis..
C) Importance of se·condary Data: ,
Seconda, ry data·can be less valid but its importance is still there.
-
1)• Easily Available:
.
· Sometimes it is difficult to obtain primary data; in these cases, getting information
from secondary .sources is easier and possible. Sometimes primary data does not
exist in such situation one has·to confine the research on secondary data.
2) No Issues Regarding in Disclosure: •
Sometimes primary data is present but the respondents are not willing to reveal it in
such case too secondary data can suffice:
3) Help in Comparitive Analysis: .
Secondary data can be use to make comparisons. Withi an_d betwee_n at1ons and
societies, oomparisons can enlarge the scope for generahsat1ons and insights.
4) Secondary Sour •• Help Define the Pop latlon: . . .
They can be extremely useful both in defining the population and in structuring the
•
sample researcher wish to take. For insta• nce•, •'governments at t 1' s t 1' cs ona
country's

-3.9- Sharp's Notes

 ethodology tor tsllsine,
M.Com. (Sem. - 111) , Research NI have calculated th
ce researcher . eir
agriculture will help to stratify a sample and, on d to project those estimates fro!))
sample statistics, the stratified sample can be use
the sample to the population.
. r secondary Data.
Q.5. Explain the Factors to be considered fo .
Ans· Introduction: other than helping t_os o l v e the
econdary data are developed for some purpose ·ckly and is inexpensiveas
b e gathered q u i d th
problem at hand. Secondary data ca . b l' a tions are ordere , e
tirne
1
compared to primary data. Even when reports orpu_ to collect original data
,nvotved is generally less .than the . time r quire 'de sufficient information to
A thorough search on secondary data will often providary data cannot solve the
' where the secon · ·
re solve the problem. In somecases· d elimin ate some va riables
problem, they can often help to structure the problem-- n the secondary data
in
from consideration. Or, it-. may be possible to ut1 ize·dea complete orpartial
• conjunction . with. primary data. s econ
· d arydata. can prov, bJ ms They · tend tocost.
solution to many problems and heJp·in structuring other pro e . •
substantially less th n primary data and can- be collected in less timea s1
o.
Factors to be considered for Secondary Data: , • . . •f .
The Factors to be considering for secondary data usage .must be satisfied
O11owing criteria:- •

1) Availability: . • . . .
It has to see that the kind of anted qata is available or not. If It Is no available then
use primary data. For some marketing proqlems, ·no secon ry data a e avail le.
For example, suppose J.C. Penney's management was interested in obtaining
consumer evaluations of the phy ical layout of the company's current catalog as a
guide for developing next year's catalog. It is unlik ly that such information is
available from secondary sources. It .is probable that no other organization that had
collected such data would be illing to make it availa le. Sear may haveperformed
such a study to guide in the development of their catalog·s; it is, however,unlikely
that a competitor would supply it to Penney's. In this case, the company would
have to conduct interviews of consumers to obtain the desired·information.
Secondary data on the spending patterns, media preferences, and lifestyles of
somepopulation
segments are very limited. For example, there is a shortage of data on African-
Americans, Hi&panics, and Asian Americans. ·
2) ReliabiUty/Con1iat.ncy;
The reliability of secondary sources may .vary substantially and ·t· d·tt·cult to
rt • if • ffi I IS I I
asce tn, 1n1u •fclent lnformatl9n is available about how the data were collect and
a
 potential sources of bias and errors. It help considerably if rese h . ble to
• d. 'd • arc er ,s a
speak ot in rv1 ua1a involved In the collect1on of the data to gain5 • .d ce on
/ • o me g ut a
-:-------:-: r--------:-::-------- ----- - - - - - -
-3.10-
n
---
'
} 11.com. (Sem. _- Ill) Research Methodolo y for Bu •

the level of its accuracy and limitations. There have beenevaluat· f ••.nesa

of manylarge-scale offi•ci•al stat1•st1• cal datasets. Researcher the relia.bility

i o ns
shou l d 1 w o
such evalua•tions and ensure the quality is sufficient for research p ua rpays t Tr yh t o
finct
t • h • o se. e
should be mee m gt e requi rements of the problem For this we have t w o • t .
data
a) Units of measurement should be the same. • · en enon·s·-
b) Concepts used must be same and currency of data should not tdated.
be 04
3) Accuracy:
Accuracy is the thir_dmajor concern of the user of secondary data.
Whenusing secondarydata, th original o rc shoul .be consulted if possibl . This
isimportant for two reasons.First, the original report is generally morecom_plete
thana second or thirdreport. It often contains warnings, .shortcomings, and
methodologicaldetails·
notreported by the second or third source. In order to find how accurate the data is
the following points must be considered • · '
aJ Specification and methodology used
b) -Margin of error should be examined
c) The dependability of the-source must beseen.
• I

4) Adequacy/Sufficiency:
Adequate data should be available. Secondary data may be available,relevant, and
accurate, but still may not be sufficient to meet all the data requirements for the
problem being research.
5) Relevance:
Relevance or Reliability refers to. the extent to _which the data fit the information
needs of their search problem. Even when data are available that covers the same
general topic as that--Jequi ed by the research probl.em, they may no fit the
requirements of the particular. problem. .

Q.6. Explain··the Sources of Secondary o·ata.

Ans: Sources of Secondary Data:
There are two main sou ces of secondary data. Th se sources·can be explained·
with the following figure:
A) Internal Sources:
Internal data refers t information that already exists within the company in which
the research problem arises. For instance, in many companies, salesperson
routinely record and report their sales. Examp1es of secon ary data include rec rds
of sales, budgets, advertising and promotion expenditures, previous
marketing resea ch studies and similar reports. Use of such secondary data
can help the marketing manag r analyse the effect of the different elements of the
miirketing mix, develop_a marketing plan, make budget and sales territory
allocations, and, In general, help in managerial decision-making. The data compiled
usually.for record purpose_m y be used in several studies undertaken by itself,or
by an outside research organisation.
~3.11~ Sharp's Notes
 dologY for Busine,,
Re•e•rch Metho
M.Com. (Sem. • Ill) ·f
. d ta refers to in ormaticri
8) External Sources. . ture External a ·iable with out . •
Mu h of th nd ,y dat I xt I in na . . that is ava, . Side
in 11
h1ch I u, xt rnal to th firm A ternal information are quite
f II mt this c t gory The soLircesof d s into two categories as
u nd ast Th se sources again can be dtVI e
.

1} rsonal Sources: . aintaine.d b the indivi uaimself

Pe onal documents are the documents, whichm d cription by an ind1v1dua1of
The personal document is a spontaneous fir5t person es anal documents
include
h• own actions, experiences, and beliefs._ :he :err:jective documents. Kinds
autobiographies. diaries, letters, and other artistic an P . .
of personal documents are as follows:
a) Autobiographies: . views about contemporary
In autobiographies, the autho_rrecords hispersona1 ce material for research in
so
happenings. These writings usually p ove a useful sourThese autobiographiescan
far as the views of author on the subJect ar.ec. oncer ed: of erson concerned or
be made available to the society either during the lifetime p h t d . th
after he has died. Autobiographies proved more useful in the researc s u Y in e
field of History, Politics, and Languages etc.
b) Diaries: • • ·•h d'
A diary is written by a person in which he reco ds daily something wh1c ac or ing
to him is very important. Being personal in nature diary accounts throw a .light on
personal experience of the recorder.
c} Letters:
The person concerned to his relatives, friends, etc writes·the letters. These letters
contain purely personal views of the persons concerned on the problem on which
he is writing. A problem can be social, economic, political, personal and
impersonal.
d) Memories/ Memoirs:
Some persons write down .th ir memories. The main events of their life, which
either might or might not have influenced the course of their life, are recorded
inmemories Memories provide a very important source of in_formation about the
period to which
they relate.
2) Public Sources:
Much of the material for business research Is obtaining from
thesesources·.These are public documents. They deal with the matter of different
interest. These sources
are again categorised into two as follows:
i) Publlataed Sourcea: .
There are varieties qt published sources from which on'e can getinformation. for hi5
research work. They are public records and available to people for investigation and
perusal. A brief description of such publithed sources is below: .
-3.12- Sharp's Note$
 thodoloQY for Business
M.Com. (Sem. -111) . Rese:rc;;;et cornmittee would be of
the minutes of the meetings of Finance Comm1tte,
paramount importance. . dar)' Data.
es of secon
Q.7. Explain the Advantages and01.aadvantags of secondary data:
Ans:Following are the advantages and disadvantage .
A) Advantages of Secondary Data: .
Theadvantages of Secondary data are as follows.
1) Ease of Access: • "' h •This includes the relative
ndary researc
There are many advantages to using .:,eco the past s ary ata
d d
con
ease of access to many sources of n dary data. h'
nI
seco . by
·t for reports to be s Ipped
accumulation required marketers to visit libraries, or wa research is more openly
mail Now with the availability of online access, secon ed usage methods forall
nd 12
.. ss. This offers convenience and generally sta ar
•. sources of secondary
research. .
2) Low Cost to Acquire: to valuable information
• d archers access
The use of secondary .data hasa 11owe rese. . . n is much lessexpensive
for little or no cost to acquire. Therefore, this mformatio
than if the researchers had to carry out the research themselves.
3) Clarification of Research Question: 'f th
h The use of
secondary research may·help the resear he'r to clan Y e resear
question. econdary research is often use prior to primary r search to help clarify
the research focus. • ••
4) May Answer Research a._.estion: · , • ••
The use of secondary data collection is often using to help align the focus of large
. scale primary research. When focusing on sec6ndary··research, the researcher may
• realize that the exact information they were looking to uncover, is already available
through secondary sources. This would effectively .eliminate the need and expense
to carry out own primary research. .
5) May-Show Difficulties in Conducting Primary Researc.h:
In many cases, the originators of secondary research include details of how the
information was collected. !his ay inclu e inform tion detailing the procedures
used in data collection and difficulties encountered in conducting the primary
research.Therefore, the detailed difficulties may persuade the researcher to
decide
that the potential information obtained 1s not worth the potential difficulties in
conducting the research. .
S) Diaadvantagea of Secondary Data:
The disadvantages of secondary data are as follows.
1) Quality of Research;
T ere are some disadvantages to using secondary res arch. The originators of

-
the primary research are largely self•governed
and controlled by the marketer.

-3.14- Sharp's Notes

 com, (Sem. - 111) • Research Methodology for Business
herefore. the secondary research used must be scrutinized since the origins of the
information may be questionab1e. Moreover, the researcher needs to take
sufficient steps to critically evaluate the validity and reliability of the informatfon
provided,.
Z) Not Specific to Researcher's Needs:
ln many cases, secondary data is not present in a form that exactly meets the
researcher's needs. Therefore, the researcher needs to rely on secondary data that
iS present and classified in a way that is similar to their needs.
J) incomplete Information:
-In many cases, researchers find information that appears valuable and promising.
The researcher may not get the full version of the research to gain the full value of
the study. This is oecause many research suppliers offer free portions of their
research and then charge expensive fees.for their f_utrleports.
4-)Not Timely: •
When using_secondary research, one must exercise caution when using dated
information from the past. With companies competing·in fast changing industries,
an out-of ate resea h r ports .many have little or no rel vance to the current market
situation.

Q.8.What is Qu tionnaire? Explain the Types of Questionnaire.

Ans: Introduction:
A questionnaire is a research instrument consisting of a series of questions for the
purpose of gathering information from respondents. Questionnaires can be thought
of as a kind of written interview. _They can be carried out face to face, by
telephone, computer or post. A set of printed or written• questions with -a choice of
answers, devised for the purposes of a survey or statistical study.
Questionnaire: - •
A)Meaning:
A Questionnaire is a structured form, either written or. printed, consists of a
formalized set of questions designed to collect information 9n some subject or
aubjects from one or more. respondents. In other words, a data collection
technique wherein the respondents are·asked to give answers to the series of
questions, writtenor verba1, about a pertinent topic is called as a questionnaire.
Questionnaires are usually used for colle ting data from the respondents
through a series of
questions and other prompts set by the organization conducting such experiments.
8) Definition•: •
Following are the definitions of questionnaire:
1
) "A questionnaire can be defined as a Sf1t of questions along with answer choices
asked for respondents r' lch are mainly used for gathering information or for survey
Purposes."
Sharp's Notes
 Methodology for Buelna.._
M.Com. (Sem. - Ill) Research

,,.,,c1zs1?MAl•di4Ad8iA . ortance
rt? State it's 1mp •
Q. 1. What is meant by• Research repo .
An• • Introduction : nent of the research study for thi:.
• . 'd red a major compo
Research report IS conste , rt has been presented and/or Written
research task remains Incomple_tet1Ht e-repoht othesis highly well
designedand
f fact n the most bnlltan YP • .
As a mattero eve t striking generalizations and findings are 0
conductedresearchstudy, andthe_mos municated to others. The purpose of
little value unless they are effect1velyfi cod.ms are made known to others.
Research
research • not weU served unless the in mg • •
results tS . . • th eneral store of knowledge. There are people Who
must mvanably eg . rt f the research process. But th
enter
-do not consider writing of report as an integral pa O . e
. . . . t· the presentation of res e arch results o r
general op1 m on ,s m favour rea .. f .
f t the
o mg
writing of report as part and parcel of the research project. Wnting O eport is the
last stepin a research study and requires a set of skills somew_hat different from
those called for in respect of the earlier stages of research. This tas should be
acconiplished by the_researcher with utmost care; he may seek the assistance
and guidance of experts for the purpose.
Research Report:
A) Meaning: • . .. .
After completing the research, the researchers prep re research report. There is
not much difference in these with respect to.writing. The only difference is that
the proposal is typically written in present or future tense and the report is always
writte in the past tense. The researchers are obligated to give a C(?mplete
detailed accoun of all their experiences in the thinkin .process involved in the
method of the researc so as to carry the reader with them from identification and
definition of the problem formulation of hypotheses,collection of data
andevidence, analysis an interpretation of data, testing of
hypotheses and drawing out of conclusions. Sucha complete and detailed account
of research experience is called a research repor Since research is considered to
be the more formal, systematic, intensive processo carrying out the scientific
method of analysi•s, it involves a more systematic structur of investigation, usually
resulting in some sort of formal record of procedure and
report of the results or conclusions.
t •
'
B) Importance of Report Writing:
Report writing is an essential aspect of organisation. It is essentially im,portan
because b us1• neaae1 have to carry their routine work and they have to
 • cst
comrnun 1
to the audiences and to the organization, whether they are internal orexternal.
No defining a report, it ia a kind of a etructured kind of a document where itis
response to . kind of a request or It is account of something or an answerto

-4.3-- Sharo's Nots

 c · - solutio R
S
-
R••••rcn M91nouu,v IVI

r
tQll,st
_,.._ ..
0
1
. "heorgan ·f eportlng Is the blood life of an organization because without
,,parting. tlonwhi ao n a WIii not have any legal existence; it is a kind of a
#11,nun,cato th 8 c aslcally gives a flow of Ideas, thoughts and the work
ure ·n . ,people. Itconnects people and persons one to one and face to
I5
,_ae, ,-epoIt'g. important for th organization because It basically gives a legal
, ttr,ce.th,n reases theproductivity, It basically emphasis the uses of the
product.
rneretore, emportanceof report writing Is discussed In detail.
tJ Give.• onaolldated & Updated InformI ti .
A_ .v V provides consolld t d on • .
"f " " "
''
_.rticUlar matter or su iecta ,1
e , factual and an up-to-date information
. about a
"""...-_ _ . ' • n,onnatlon In the report ls .well organized and can be
fOr futureplanning and decision making.
_,ort •• • MHna of Internal Communication:
A report acts as an effective means of communication within the organization. It
ptOvideS feedback to employees. It is prepared for the information and guidance of
otners connected with the matter/problem.
Rtf>Orl Fac!litate Decisio,nMaking & Planning : .
Report provide reliable data which can be used in the planning and decision
making
process· It acts asa treasure house of reliable information for long term planning
and decision making.
RepOrt Discloses Unknown Information : . .
Reports provide informatiqn, which may not be known previously. The committee
members coHect data, draw conclusions and provide information which will be
new to a1Jconcerned parties. Even• new business opp rtuntties re visible
through unknown information available in the reports.
5) Report Gives lnfonnation to Employees:
Reports are available t . manage.rs and departments for internal use. They are
widely used by the departments for guidance.. Report provide a feedback to
employees and are U$eful for their self-improvement.
IJ Report Gives Reliable & Perit1anent lnformatio •:•.
The information provided• by a report is a permanent addition to the information
avajlable to the office. There are censuses reports.(prepared since last 100 years)
whichare used even today for reference purpose.
7) Report facilitates framing of personnel Policies:
Certain reports relating _to employees are useful wh!le preparing personnel
policies such as promotion policy, training policy and welfare facilities to
employees.
I) Report Givn tnfonnation to Shareholders :
Some company reports are prepared every year for the benefit of shareholders.
Annual report for example, is prepared and sent to all shareholders before the
AGM. It gives i formation about the progress of the company.

Sharp's Notes
 ethodoloQY for Busine,,
ResearchM
M.Com. (Sem...111) Registrar : Registrar every year far
9) Report Gives Information to the ts are sent to the keep supervision Otl the
Annual report and annual accounthe gove nment to
information. Such reports enable
companies. blem• : . . ent problems faced by the
10) Report Solves current Pr:gers while dealing with curr licated problems.
• Reports are useful to ma h.l dealing with cornP .
They provide guidance w, e . i ns
companyH. I Directors to Take Prompt 0ec1so mp.any and are extremely useful
11) Report e ps rts relate to internal
po
• . Reports give re1·,a bl e, upd ated
work. ing .of the. co
company re
to directors . d policy framing• -
in decision making an
and useful information in a co_mpact form.
• R port Writing.
Q. 2. Explain the different Steps in e .
Ans: Introduction : . t k· ng ·accurate inductive work. The
Research reports are the product ofslow, pains a_1 'nalysis of the sl,Jbject-matter;
d . l eport are· (a) logIca1a
usual steps involve in wn mgr • . f th ough draft· (d) rewriting and
°
(b) preparation of the final outlin_e; ( ) p e a at,on _en (f) writin the
final draft. polishing· (c) preparation of the final b1bllography,a . . h

self explanatory, yet a brief mention of eac

. f
one O
th Though II these steps are
ese
will be·appropriate for better understanding. • •
Differe t Steps in Writing Report :
1) Logical Analysis of the Subject Matter: .
It is the first step whiph is primarily concerned with the developn:1ent of a ubJect.
There are two ways in which to develop a subject (a) logically and (b)
chronologically. The logical development is made on the basis of mental connections
and associations between the one thing and another by means of analysis. Logical
treatment often consists in developing the material from the·simple possible to the
most complex structures. Chronological qevelopmer:tt is based on a connection or
sequence in time or.occurrence. The directions for doing or making something
usually follow the chronological order. • . •
2) Preparation of the Final Outline : .•
Iti the nex.tstep in writing the research report "Outlines are the framework
upon
which long written works are constructed. They are an aid to th . ·
t·
t th 10 n e •1
matena and a. reminder
• of the points - to be stressed . 1
e og1cal orgamsa
th "
o
3) Preparation of the rough Draft: m e report.
This follows the logical analysis of the subject and th8 . .
Such a step is of utmost importance for th preparation of the final outhne.
• 1n the context of hjs research H .. s o wntee researcher
now s· t t
1 .hestud
has done whatdown
.
adopted by him in collecting the material : will wnte_ down the proce ure
forhisyt.
faced by him, the technique of analysis adopt:ud b Y al.ong with vario_us
 limitation
- • • Y him, the broad findings 8
--..4,5._.
- Sharp's Notes
 M.Com. s. m . Ill R••-■rch Methodolo tor Bua1n.,.
nd
The above examples are Just the sample• for bibliography entrleaa may beuaed, bt
one should also remember that they are not the only acceptab'le forms• t. The ony i
thing important isthat, whatever method ona selects, It must remain cons1s ent.
6) Writing tM Final Draft :
This constitutes the laststep. Tha final draft should be written I a concise al\d
objective styte and in simple language, avoiding vague.expressio s sucha8 "n
llellfflll", ,tiere may be", and the like ones. While writing the final draft, the
researcher must avoid abstract terminology and technicaljargo . lllus rations and
examples based on common experiences must be incorporated in the final drafta
they happen to be most effective in communicating the research findings toothers.;
research report should not be dull, but must enthuse people and maintain interest
and must showoriginality. It must be remembered that every report should be an
attempt to solve some intellectual problem and must contribute to the solution of a
problem and must add to the knowledge of both the researcher and thereader.
• •
a. 3. Explain the various-types of research reports.
Ana: Introduction :
Dependin,gon its intended audience, the resear h report may be either technical or
popular in orientat!on. While both approaches describe the research study, its
n:,eth_odology,. findings, con lusions • and recommendation, they can differ
considerably 1 terms of detail, writing style, use o·ftechnical terms and length: In
general, the higher the executive statu of the audience, the shorter the report ·11
bend tobe. WI

. Types of Research Reports :

Following are the types of research report:
1) Technical Report: . - _ •
The technical r port i generally 1ntended for other rese rchers or for h
agers. Th report should enable another research8r·10 criti ue met::: 0arc
catculat1ons and accuracy and to follow everythin • • ogy,
by-step basis. A brief .definition of any technicai t g w:1ch is done ona step-
technical report the main emphasis is on')th. • erm s ould be given. In the
...,..aA..,,..
1 e methods employed ") •
" 1n the course o. tf h e study iii) the det •1d . , 11 assumptions
their limitations and supportin,g data A ae, I pres ntat1on of the findings including
asfollows: • genera outhne of a technical report can be

a) Summary of Reaults : :
A brief review of the main findings just in two or th •
.b) Nature of the Study: reepages. • •
Descri tion of the general objectives of stud •
opera nal tenns, the working hypothesis, the y, formulat10 of the problem in
etc. type of analysis and data required,

' ,
Sharp's NotfS
 _..A.-:d:;i•
Sem• • Ill R hM· for Business
h b
,' sook In Su sequent Edition ••••re et odol
: .
' t-4altahan, D.P. Kauffman, J.M. (1982), Exceptional children (2nd ed.),
Englewood Cliffs, NJ : Prentice Press.
Editor •• Author :
11 t,AftChell,J.V., Jr(Ed.), (1985). Mental measurement yearboo (9th ed.), Highland
p1t1<,NJ : Gryphon Press.
5) No A thor given : • • .
1

f)rentiee-Hall authors guide. (19!8), Englewood Cliffs, NJ : Prentice Hall.

Q. 7. What Is 'Foot note'? Explain the reasons·for giving foot notes.

- : Foot Note : . .
Footnotes are u eful, as providing helpful supple entary information and citations
at the bottom of a page of. text. Typically, editors will suggest that parenthetical
intonnation be putinto·footnotes as a way of keeping the flow of the prose intact.
Used judiciously, the footnote can be. a helpful addition to a text or a quick way
to
cite a quotation. •
A) Meaning of'Foot Note: . . .
Footnotes are notes ·placed at the bottom of a· page. They cite references or
comment on a designated part of the text above it. For example, say you want to
add an inter,sting comment to a sentence you ave written, but the comment is
not
• directly related to the a gument of your paragraph..In this.case, you could add the
symbol for a foot note..Then, at the bottom of the page you uld r print the
symbol and insert your comme_nt. .
B) Reason for Giving Foot Notes : •• •
.1) Footnotes follow single-spaces and are indented five space_swith fopt note typed
sl
C_ I•Qhtlomm
ya boas
V8.ar
the line. The names of the authors follow a.·norma.l or.der..
.
used to separate the main items. Each foot note ends with a period.. • . .
2) • d.to acknowledge a nd docum ent that content which tS
Foot
attnb nuteotes
d toare useal source(s). Significantly,
exte . . to give
failure . pred1t for borrowed
. .
material 1s

plagiarism. t
to look at the information iri a footnote, they simply have to
3) When the r aders wanh ge Readers interested in identifying the source or note
look a_t the bottom oft et = p ge-to find what.they are looking for. .
can quickly glance down 8 ss to the citation or a supplemental thought, idea or
4) The readers have instant the material in which the foot note appears.
t O
concept that is closely _rela e ch page hen you print your research paper; no
5) The foot notes ere pnnted on ea
 additional printing is n : tely link the foot note to the subject of the text without
I) It allows the reader to ,f d the note at the back of the paper.
having to take the time :. Included when printing.off apeclfic
pages.
7) Foot notes are automat • • Sharp'• NotN
- ii -,.22-
•
 h Methodology for Busin,,
M.Com. (Sem. •Ill) R••••rc

at@m111@t1
I Reaearch.
1) Author,_ Date, Syatem n
2) FootNote•, End Notee, TextNot••·

3) Citation. .

An•: 1) Author, Date, Syatem In Research: nd the year of publication in the text-
. th me of the a ut ho r a f rk
In this system you g ive e na . a t t h e end of the piece o wo
,
where the
11st
this enables your reader o refer to the .h. the alphabetical order, thus: 'the
1
reference can be found in. itsplace. wit 998 ) changed the·way in which'o, r
development of these techniqu s by Singh hich changed the way in which'. Ot
1 998
'technique were(developed (Singh ) . b sic·format and these are noted in
course there are often subtle differences tothis_ nces in an author-da
Table 8 4 'Questions and solutions: referencmg • Refere d' te
system hould be listed at the end of your written text (i.e. bef re any appen
ices)in alphabetical order of authors' surnames·. The on-fy hing hat might come
between the last part of your written text and the references might bE:a
shoackn le gement
{to individuals or institutions who have· been instrumental. in fac,ht t m g. your
research) if such is needed for a specific reason or common courtesy d mands it.
Advantages and•Disadvantages : • .• ·
The author / date syst ni is an 'academic' style. Its disadvantage is t erefore that
referencing is very 'up-front',·even obtrusive, in the text. It i not an appropriate
style for some practically orientated reports, pa icu(arly where the .readership is
not academic. Large numbers of references using this style end to clutte_rthe
text and make it difficult to read. The system also has the disadvantage that it
does not incorporate .footnotes (at the foot of the page) or endnotes (at the end of
the chapter). However, one view is that footnotes and endnotes are undesirable
anyway
- that if something is worth saying it is worth saying _i nt h e text. If notes and
asides are nevertheless considered necessary, it is possible to establish a footnote
system for tf1is purpose in addition td using the author/ date sys em for
references to the
, literature only. This of course becomes somewhat complex. If a number of footnotes
/endnotes are considered necessary, it is probably best to use the footnote/
endnote styte f0r everything, as discussed below. The advantages of the author I
date system are ·that it saves the effort o_fkeeping track of footnote or endnote
numbers: it indicates the date of publi tion to the reader; the details of any one item
of literature have to be written out only once; and It results in ,a tidy,
alph.abetical list of reference• at the end of the document or chapter.

Sharp's Notfl